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Vividly demonstrate the relevance of theory to real-world economic issues and policy questions using the wealth of contemporary examples and practical applications found in Carbaugh’s popular INTERNATIONAL ECONOMICS. Now in its 16th edition, this proven, market-leading text remains a favorite among instructors and students for its clear, concise treatment of international trade and finance theory. The author presents discussions both verbally and graphically, making the text highly accessible even for students with little economics background. The flexible format makes the text suitable for a wide range of course structures and subjects. This edition reflects the latest economic issues, from deindustrialization and declining oil prices to foreign exchange market rigging and deflation and the Eurozone, keeping your course both current and engaging. As delighted students and instructors have discovered, “If it’s clear, concise, and contemporary, it has to be Carbaugh!”
- NEW UPDATES REFLECT THE LATEST ECONOMIC ISSUES: This new edition is thoroughly updated with content that reflects the latest economic issues throughout the world today.
- CHAPTER HIGHLIGHTS INTERNATIONAL ECONOMY WITH NEW EXAMPLE: Chapter 1 now illustrates principles with new coverage of the U.S. Apple Growers and Chinese competition.
- NEW ILLUSTRATION EXEMPLIFIES COMPARATIVE ADVANTAGE IN CHAPTER ON MODERN TRADE THEORY: Chapter 2 now covers “Deindustralization Redeploys Workers, Shifting Competitiveness in Shipping Routes.”
- CHAPTER ON NONTARIFF TRADE BARRIERS FOCUSES ON TIMELY ISSUES SUCH AS AVOIDING ANTIDUMPING DUTIES: A new illustration features the U.S.-Mexico Sugar Agreement, Vaughan Basset Furniture Co. and dumping in Chapter 5.
- NEW CONTENT EXEMPLIFIES CONTEMPORARY ISSUES IN TODAY’S TRADE REGULATIONS AND INDUSTRIAL POLICIES: Chapter 6 now highlights the impact of the U.S. eliminating restrictions on oil exports, export-import bank and Iran sanctions, and how Russia has been hit by sanctions over Ukraine.
- TIMELY ISSUES CAPTURE STUDENTS’ ATTENTION IN CHAPTER 7: Readers examine China’s challenges and how declining oil prices are testing OPEC in this chapter on Trade Policies for the Developing Nations.
- NEW, MEMORABLE EXAMPLES BRING CONTENT ON REGIONAL TRADING ARRANGEMENTS TO LIFE: Chapter 8 now includes new coverage of deflation and the Eurozone, a transpacific partnership, free trade agreements that bolster Mexico, as well as content on Greece and the Eurozone.
- CHAPTER 11 ON FOREIGN EXCHANGE INCORPORATES NEW EXAMPLES: Readers examine new content on currency carry trade and reserve currency burdens for the United States.
- LATER CHAPTERS NOW INTEGRATE NEW, TIMELY EXAMPLES: Readers review new content on foreign exchange market rigging in Chapter 12, examine if currency depreciation increases exports in Chapter 14 and review how the Swiss Franc has soared after pegged rate is scrapped in Chapter 15.
- STREAMLINED PRESENTATION OF ESSENTIAL ECONOMIC THEORY PROVIDES A SOLID THEORETICAL FOUNDATION: The book’s clear and concise coverage of economic theory prepares readers for more in-depth explorations of contemporary issues such as wage insurance, foreign aid, and free trade’s impact on the environment.
- TEXT DEMONSTRATES RELEVANCE OF THEORY THROUGH A WEALTH OF EXAMPLES AND APPLICATIONS: This edition’s memorable examples and practical applications highlight international economic theories at work in today’s real-world with illustrations of the complex consequences of outsourcing, globalization, free trade, tariffs, and exchange rate adjustments.
- SIX CENTRAL THEMES ARE INTEGRATED THROUGHOUT THE TEXT: These reader-friendly, engaging themes provide a strong emphasis on issues at the forefront of international economics today, including the global economic downturn, globalization, free trade and quality of life, trade conflicts between developing and industrial nations, trade liberalization, and the dollar as a reserve currency.
- MINDTAP WITH APLIA: Our digital learning platform, MindTap, is now available, complete with the highly-acclaimed Aplia homework solution and course-specific learning activities and assessments. This turnkey, out-of-the-box digital solution integrates with any LMS and will offer students a robust, engaging learning experience in International Economics.
Part I: INTERNATIONAL TRADE RELATIONS.
2. Foundations of Modern Trade Theory: Comparative Advantage.
3. Sources of Comparative Advantage.
5. Nontariff Trade Barriers.
6. Trade Regulations and Industrial Policies.
7. Trade Policies for the Developing Nations.
8. Regional Trading Arrangements.
9. International Factor Movements and Multinational Enterprises.
Part II: INTERNATIONAL MONETARY RELATIONS.
10. The Balance of Payments.
11. Foreign Exchange.
12. Exchange-Rate Determination.
13. Mechanisms of International Adjustment.
14. Exchange-Rate Adjustments and the Balance of Payments.
15. Exchange-Rate Systems and Currency Crises.
16. Macroeconomic Policy in an Open Economy.
17. International Banking: Reserves, Debt, and Risk.
Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.
Instructor's Companion Website (with Instructor's manual, PowerPoint®, Test Bank)
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